Michaels, a store that sells craft supplies and random decorative crap, managed to become the only big-box craft store that sells kids’ current favorite craft/toy, the Rainbow Loom. Here’s the problem with having one hot product, though: it might boost a company’s sales and profits now, but how long will the trend last? [More]

Rainbow Loom has reportedly sold 3.5 million rubber band weaving kits, but it’s not enough. There’s never enough of the hot toy of the year. That’s why we were surprised–but not all that surprised–to learn that there’s a brisk trade in counterfeit Rainbow Looms out there. [More]